Daily News: July 10, 2013

Vector Capital Affiliate Provides Saba With $25MM Facility


Saba, a global leader in next-generation cloud solutions for talent management, announced that it entered into a new $25 million five-year credit facility with an affiliate controlled by Vector Capital.

The new facility will support general working capital needs as well as growth initiatives and is in addition to the company’s existing $40 million revolving credit facility with Wells Fargo Bank.

“This additional debt capacity provides Saba with significant financial flexibility to pursue growth opportunities,” said interim chief executive officer, Shawn Farshchi. “Combined, these non-dilutive sources of capital enhance our overall financial position as we extend our leadership position in the talent management market.”